Cooley Advises Yelp in its Initial Public Offering
San Francisco, Calif. — Mar. 2, 2012 — Cooley LLP is pleased to announce it advised Yelp Inc. (NYSE: YELP) in its initial public offering of common stock. Yelp's common stock began trading on the New York Stock Exchange today.
Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.
Cooley business partners Craig Jacoby, Kenneth Guernsey and David Peinsipp led the team advising Yelp, which also included Amanda Busch, Wendy Davis, Robert Jones, Ashlie Lawton, Siana Lowrey, Christopher Yamaoka and Eric Steiner. The Cooley team members are based in the firm's San Francisco, Palo Alto and Reston offices.
Yelp connects people with great local businesses. Yelp users have contributed a total of approximately 25 million cumulative reviews of almost every type of local business, from restaurants, boutiques and salons to dentists, mechanics, plumbers and more. These reviews are written by people using Yelp to share their everyday local business experiences, giving voice to consumers and bringing "word of mouth" online. The information these reviews provide is valuable for consumers and businesses alike. Approximately 66 million unique visitors used Yelp's website, and its mobile application was used on approximately 5.7 million unique mobile devices, on a monthly average basis during the fourth quarter of 2011. Businesses, both small and large, use Yelp's platform to engage with consumers at the critical moment when they are deciding where to spend their money. Yelp's business revolves around three key constituencies: the contributors who write reviews, the consumers who read them and the local businesses that they describe.
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